FT Vest Nasdaq-100 Quarterly 15 Buffer ETF (QQBF)

The FT Vest Nasdaq-100 Quarterly 15 Buffer ETF (ticker QQBF) is a defined-outcome exchange-traded fund sponsored by First Trust and sub-advised by Vest Financial. It seeks returns linked to the Nasdaq-100 Index, as represented by an exchange-traded fund tracking that index, up to a cap, while buffering against the first 15% of losses over quarterly outcome periods.

The fund builds its buffered payoff mainly with FLexible EXchange (FLEX) options. Because the outcome period is only three months, the buffer and cap are reset four times a year, unlike most buffer funds that use annual periods.

Investors entering partway through a quarter may experience a buffer and cap different from those set at the start of the period.